Energy Vault purchases a 175 MW battery storage project located near Dallas.

      In the area north of Dallas, where data centers are proliferating and the Texas grid is under strain from high demand, Energy Vault has made a new investment in battery storage, believing that the companies fueling AI's relentless demand for energy will require significantly more power, and quickly.

      The California-based energy storage firm announced on Monday that it has acquired the McMurtre Battery Energy Storage System (BESS), a 175 MW / 350 MWh project located near Dallas, from developer Belltown Power. This acquisition supports Energy Vault’s objective, initially outlined at its 2025 Investor and Analyst Day, to implement an initial 1,500 MW of battery storage capacity throughout the U.S. and beyond.

      Why ERCOT North, and why now?

      The McMurtre project is situated in the ERCOT North market, an area that has become one of the most competitive regions in American energy. The rapid construction of data centers near Dallas has led to a continuous need for grid stability and new generation capacity, with power price dynamics in the area among the most robust in the country. Energy Vault reports that they chose the interconnection point specifically because of its revenue forecasts and its closeness to the expanding computing infrastructure.

      The project already has a finalized Small Generator Interconnection Agreement (SGIA) and total site control, two key milestones that significantly reduce the risk associated with construction. Energy Vault anticipates receiving Notice to Proceed in the fourth quarter of 2026, with the aim for commercial operation in December 2027.

      The financial outlook

      The latest updates from the EU tech scene, insights from our founder Boris, and some questionable AI art can all be found in our free weekly newsletter. Sign up today!

      According to the company, McMurtre is projected to generate between $15 million and $20 million in average annual revenues during its operational life, which translates to an estimated total lifetime revenue of approximately $350 million to $375 million or more. However, these projections are forward-looking and depend on typical conditions regarding market status, permitting, and execution risk.

      Energy Vault plans to include the project in its Asset Vault platform, a fully consolidated subsidiary that develops, builds, owns, and operates energy storage assets worldwide, once it achieves Ready-to-Build status. The company’s $300 million preferred equity investment commitment is intended to support projects like McMurtre as they progress from development to construction, facilitating over $1 billion in total project capital expenditure across the portfolio.

      Three asset classes, one strategy

      McMurtre is not merely an independent battery project; it aligns with a broader strategic framework that Energy Vault is developing around three integrated asset classes: battery energy storage systems, “powered land,” and “powered shells,” which refer to modular data center infrastructure placed near energy sources.

      This strategy became more defined in February 2026, when Energy Vault announced a framework agreement with Crusoe Energy Systems to deploy Crusoe’s modular AI factory units at Energy Vault sites, beginning with a 25 MW deployment in Snyder, Texas. This partnership marked the company's official entry into AI computing infrastructure, indicating that they view battery storage not just as a means for grid stabilization but as a fundamental component for a new category of energy-adjacent digital infrastructure.

      Robert Piconi, chairman and CEO of Energy Vault, framed the acquisition in this context. The company is developing battery assets that enable powered shell deployments to meet the increasing demand for AI computing capacity, with McMurtre reinforcing that foundation.

      A growing asset base

      The acquisition raises Energy Vault’s total owned assets, whether obtained, under construction, or operational, to 715 MW across all asset classes in its Asset Vault platform. Other projects in the pipeline include the 150 MW / 300 MWh SOSA Energy Center in Texas, the 57 MW / 114 MWh Cross Trails BESS in Texas, an 8.5 MW / 293 MWh resiliency center in Calistoga, California, and two long-duration storage projects in New South Wales, Australia: the 125 MW / 1.0 GWh Stoney Creek BESS and the 100 MW / 870 MWh Ebor BESS.

      The McMurtre system will utilize Energy Vault’s B-VAULT AC Technology Platform 3, the company’s latest battery offering. Globally, the B-VAULT portfolio now exceeds 3 GWh of deployed or contracted systems across Europe, North America, and Australia.

      The larger question

      Ultimately, Energy Vault’s strategy is a bet on convergence: that the companies racing to establish AI infrastructure will pay a premium for reliably co-located power, and that vertically integrated storage operators are uniquely positioned to provide it. The success of this strategy will hinge on execution, the continued growth of ERCOT, and whether the rapid expansion of AI data centers can be sustained.

      For the moment, the McMurtre acquisition adds another piece to the mosaic Energy Vault is creating across three continents and increasingly at the